EURUSD, H4 approaching our Pivot point, potential for a rise .
Description
Price is approaching our Pivot point of 1.22646, which is in line with our 50%, 78.6% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.23468, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline and the Ichimoku cloud, in line with our bullish analysis.
Pivot: 1.22646
Why we like it:
50%, 78.6% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1.22158
Why we like it:
78.6% fibonacci retracement, 100%, 161.8% fibonacci extension and ascending trendline support
1st Resistance: 1.23468
Why we like it:
-27%, -27% -61.8% Fibonacci retracement and 127% fibonacci extension
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 1.22646, which is in line with our 50%, 78.6% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.23468, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline and the Ichimoku cloud, in line with our bullish analysis.
Pivot: 1.22646
Why we like it:
50%, 78.6% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1.22158
Why we like it:
78.6% fibonacci retracement, 100%, 161.8% fibonacci extension and ascending trendline support
1st Resistance: 1.23468
Why we like it:
-27%, -27% -61.8% Fibonacci retracement and 127% fibonacci extension
Trading FX & CFDs carries high risk.
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